Capstone Investment Advisors LLC Invests $578,000 in Tenet Healthcare Co. (NYSE:THC)

Capstone Investment Advisors LLC bought a new stake in Tenet Healthcare Co. (NYSE:THCFree Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,496 shares of the company’s stock, valued at approximately $578,000.

A number of other hedge funds have also bought and sold shares of THC. Rise Advisors LLC acquired a new position in Tenet Healthcare in the first quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new stake in shares of Tenet Healthcare in the 4th quarter worth about $52,000. FinTrust Capital Advisors LLC boosted its stake in Tenet Healthcare by 108.6% during the 4th quarter. FinTrust Capital Advisors LLC now owns 897 shares of the company’s stock valued at $68,000 after purchasing an additional 467 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Tenet Healthcare in the third quarter valued at approximately $67,000. Finally, USA Financial Formulas bought a new stake in shares of Tenet Healthcare during the third quarter valued at approximately $92,000. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Tenet Healthcare from $107.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Baird R W upgraded shares of Tenet Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Wells Fargo & Company increased their price objective on shares of Tenet Healthcare from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Barclays increased their price target on Tenet Healthcare from $113.00 to $147.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com upgraded Tenet Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $121.18.

Read Our Latest Report on THC

Insiders Place Their Bets

In related news, EVP Thomas W. Arnst sold 8,148 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $116.10, for a total transaction of $945,982.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tenet Healthcare news, EVP Thomas W. Arnst sold 8,148 shares of Tenet Healthcare stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $116.10, for a total value of $945,982.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher S. Lynch sold 10,861 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $133.83, for a total transaction of $1,453,527.63. Following the sale, the director now directly owns 14,759 shares in the company, valued at approximately $1,975,196.97. The disclosure for this sale can be found here. Insiders sold a total of 24,691 shares of company stock worth $3,117,909 over the last quarter. Company insiders own 0.93% of the company’s stock.

Tenet Healthcare Price Performance

Shares of Tenet Healthcare stock opened at $131.80 on Monday. Tenet Healthcare Co. has a 1-year low of $51.04 and a 1-year high of $142.35. The firm has a fifty day simple moving average of $130.81 and a 200-day simple moving average of $104.86. The company has a current ratio of 1.44, a quick ratio of 1.37 and a debt-to-equity ratio of 2.58. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 5.11, a PEG ratio of 1.37 and a beta of 2.15.

Tenet Healthcare (NYSE:THCGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $3.22 EPS for the quarter, beating the consensus estimate of $1.45 by $1.77. Tenet Healthcare had a return on equity of 26.76% and a net margin of 12.53%. The firm had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.15 billion. During the same quarter in the prior year, the firm posted $1.42 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that Tenet Healthcare Co. will post 8.7 earnings per share for the current year.

About Tenet Healthcare

(Free Report)

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.

Featured Articles

Want to see what other hedge funds are holding THC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tenet Healthcare Co. (NYSE:THCFree Report).

Institutional Ownership by Quarter for Tenet Healthcare (NYSE:THC)

Receive News & Ratings for Tenet Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tenet Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.